FAIR Assistance Act of 2014

Fairness and Accountability In Rental Assistance Act of 2014 or the FAIR Assistance Act of 2014 - Amends the Departments of Veterans Affairs and Housing and Urban Development, and Independent Agencies Appropriations Act, 1996 with respect to the Department of Housing and Urban Development (HUD) Moving to Work demonstration program.

Limits the payment standard used in connection with a voucher for tenant-based rental assistance under the program, for FY2015 and thereafter, to 120% of the fair market value rental established under the United States Housing Act of 1937 for the applicable market area and size of dwelling unit.

Exempts from this limitation any family that:

• is elderly or disabled; or
• resides, at the time of a declared major disaster, and before the first adjustment to the fair market rental after the disaster declaration, in a principal residence located within the disaster area that meets other conditions and requirements as the HUD Secretary may provide.